I recently viewed the first two episodes of ‘The Defects’ and I’m still shaken. In combination with the thematic elements of the drama—a bleak tale of radical beliefs and struggle for life—the effect is brutal. This imaginative K-drama takes place in 2025. Though set in a fictional world, its themes of classism and the often unyielding pursuit of “better genes” ring all too true to very real historical and present-day horrors. It made me think: Can Decentralized Finance, or DeFi, really offer Africa a different, more equitable future, or are we setting ourselves up for a similar, albeit technologically advanced, kind of exploitation?

Echoes of Exploitation, Reimagined?

“The Defects” centers on an illicit adoptions ring. At its heart, it’s a story about power, control and the dehumanization of those deemed “less worthy.” We’ve witnessed this play out, albeit in different forms, throughout history, and Africa is no exception. Every phase of colonialism, resource extraction, and yes, even foreign aid programs have created inequalities and cycles of dependency.

Now, think about the promise of DeFi: financial inclusion, access to global markets, and the potential to bypass traditional, often corrupt, institutions. Sounds amazing, right? What occurs when this technology is misused, or when the positive impacts are not extended equally to everyone?

Would it become a new instrument of exploitation, if implemented dangerously—blinding regulators to bad actors hiding in the code? Is the lure of economic independence turning into a snare? Our most vulnerable communities do not have the education or resources to be able to navigate its complexities. Perhaps we can imagine a digital counterpart to Kim Se Hee’s perverse worldview. In this case, access to financial capital depends on strings of coded algorithms rather than genes, but the impact is just as catastrophic.

Africa's next generation is at stake. The stats don't lie. The continent is full of promise, but is at the same time confronted with gigantic challenges. Poverty, corruption, a lack of access to education, and technology all contribute to a perfect storm for exploitation. DeFi and NFTs unlock some incredible possibilities. Another project I’ve seen does just that by giving farmers greater access to credit, lowering the cost of remittances and expanding the ways in which artists can make money off their creations.

DeFi's Promise, Africa's Challenge

Here's the catch: these opportunities are not universally accessible. Digital literacy is low. Internet access is unreliable. And the dangers of scams and fraud are no joking matter.

Imagine a smallholder farmer lured in by the prospect of booming yields from a DeFi-fueled farming simulator. Unfortunately, this farmer could be left with nothing due to an erroneous smart contract or the deed of a bad actor. Is this the promise of Americans’ long sought financial freedom, or something closer to a global indentured servitude?

So let’s not repeat the mistakes shown in ‘The Defects’. We have to stop pretending that technology, on its own, is a cure-all. It’s a transparency tool, and like any transparency tool, it can be used for good or for ill.

So, how do we make sure that DeFi liberates instead of depriving African communities?

Building a Future, Responsibly

First, it starts with education. In addition, we should be investing in financial literacy and cybersecurity education to help people spot and avoid scams and deceitful practices. First, we need to teach everyday people how to critically evaluate DeFi projects and understand the risks associated with them.

Second, we need to construct culturally relevant DeFi solutions. We need to stop thinking we can just transplant Western models and they will succeed. Let’s address the very specific needs and challenges faced by African communities. Only then can we begin to orient solutions purposefully tailored to their unique context.

Third, we need responsible regulation. This is a tricky one. We don’t want to throw a wet blanket on innovation, but we do have a soaring desire to protect consumers from predatory practices. We must strike the right balance that supports innovation and advances growth, but does so in the name of fairness and transparency.

To my fellow African entrepreneurs, developers and policymakers—let’s put inclusivity front and center. Moving forward, let’s make transparency and ethical practices a priority when developing and deploying DeFi and NFT initiatives. Develop spaces that are inclusive for all people, irrespective of identity or income.

Build a future where DeFi is a force for good, where it empowers communities, creates opportunities, and promotes financial inclusion. Join us, and help create a vibrant, diverse, strong and resilient Pan-African DeFi ecosystem. It should be rooted in equity and fuel racial and social justice while fostering economic prosperity for everyone.

'The Defects' is a cautionary tale, a reminder of what happens when power is concentrated in the hands of a few and when the vulnerable are exploited for profit. Let's not repeat those mistakes. Together, let’s use DeFi to help the continent towards a brighter, more fair future. We owe it to the next generation.

'The Defects' is a cautionary tale, a reminder of what happens when power is concentrated in the hands of a few and when the vulnerable are exploited for profit. Let's not repeat those mistakes. Let's use DeFi to build a better, more equitable future for Africa. We owe it to the next generation.